Failing Forward in Real Estate

Mike: What’s up, everybody? Welcome back to the show. Today, we are talking with my buddy BJ Gremillion out of Phoenix, Arizona. I always say that Dallas, the market I’m in, is probably the most competitive market in the country. Everybody feels like their market is the most competitive, but if there was a more competitive market than Dallas, it’s probably Phoenix, and so we’re kind of fighting for most competitive markets in the country.
But BJ and his partner, Brad, and really a number of people who have been involved in their organization to help them grow their business and kind of live through the trenches over the past 10 years, and they’ve done a number of things. They have some kind of lessons learned, some lessons learned from failing and some lessons learned from what’s working well that he is going to share with you today to help you build a stronger business. Let’s go ahead and get started.
Professional real estate investors know that it’s not really about the real estate. In fact, real estate is just a vehicle for freedom. A group of over 100 of the nation’s leading real estate investors from across the country meet several times a year at the Investor Fuel Real Estate Mastermind to share ideas on how to strengthen each other’s businesses, but also to come together as friends and build more fulfilling lives for all of those around us. On today’s show, we’re going to continue our conversation of fueling our businesses and fueling our lives. I’m glad you’re here.
BJ, hey. Welcome to the show.
BJ: Mike, thanks for having me on.
Mike: Yeah, it’s exciting to have you guys on here. You guys have been Investor Fuel members for a couple quarters now and it’s been great to learn . . . you guys probably have one of the most diversified businesses of almost anyone else in the group in that obviously you fixed and flip houses and you wholesale. You have a construction business where you do new build construction. You guys have a plumbing business and a demo business and I’m sure there’s a couple of ones that I’m missing in there.
But I know that’s all come from areas where you pivoted over the past 10 years of being in business, and so I’m excited to kind of unlock some of those things because I think that’s how small businesses work. You’re just constantly pivoting towards what’s working and moving away from what’s not, right?
BJ: Right. Yup.
Mike: Yeah. So tell us a little bit about your background. I know you guys have been investing for about 10 years now, but take us back to the beginning and kind of how you got started in real estate investing and let’s take it from there.
BJ:Yeah. So, Brad actually got started right around 2008. He came from Dallas actually and started his family out here in the Phoenix area, in Mesa, Arizona, actually. And so, our office is now in Gilbert, but we actually moved into a neighborhood, you know, close by each other. And so, he started in that.
I was the financial industry with Edward Jones actually. So that was an interesting experience. I got out of college with a psychology degree, so I had no idea, you know, what I was going to do, how was I going to support my wife and family. So I felt like I owed it to my father-in-law to come up with something. Didn’t know anything about the financial industry sector, so I got into Edward Jones and started with that. They gave me a phone book and told me to go out and start knocking doors and cold calling basically. And so, I was a door-to-door bond salesman basically.
Mike: You got to form thick skin early on.
BJ: Oh, yeah. You know, it was tough work in the beginning. I always hit my numbers and stuff, but I mean, to be completely honest, I had no passion. I didn’t enjoy it. The money was okay. It was enough to support the family, but again, it wasn’t something that I was enjoying.
And then, you know, I looked at Brad and he was always telling me what he was doing. So, you know, I’m sure most people know that Arizona in 2008 and 2009, it was kind of like the wild west out here, so probably similar to how it was in Dallas and some other areas, but especially Phoenix market, L.A., some parts of California.
I mean, there were thousands of homes every day going on the auction block. And so, he got involved in the investment side really quickly, worked with some investors. He got to see it firsthand and he’s telling me these stories about, you know, what they were doing and what they’re buying homes for.
So, you know, long story short, that excited me a whole lot more than selling bonds door to door. So I jumped ship, teamed up with him, and we’ve been working ever since together. We branched out from our original broker in about 2010 or 2011, started Better Choice Homes, and now we have our own brokerage here in Gilbert, Arizona. Yeah, I haven’t looked back since.
Mike: Yeah. I forgot to mention the brokerage part. So you started with a brokerage and then along the lines, you guys started to diversify into other businesses though. So I know some of that was you needed that service for your own business and it just turned into like, you know, you’re doing some construction for yourself, so might as well start a construction company and a little bit more, you know, maybe for other reasons. But kind of talk about when you started the diversify and kind of why you did some of those things.
BJ: Sure. You know, back in the crazy days of 2008 through 2010, everything that we purchased was typically from the auction. We were also buying a lot on the MLS. And so, that was how we picked up all of our homes. So we were buying these homes and kind of learning on other people’s dollars. We worked with investors. We personally didn’t have the money to put into these flips. Hindsight, obviously, I wish we did, you know? We’d be in a very different spot financially for sure if we did, but of course that’s hindsight. But it was nice to learn on everyone else’s dime. So we got to learn from their mistakes and failures.
Back then, there weren’t a lot of failures. It was just kind of like you’re buying a home for $30,000 and you’re selling it for $50,000 and it was pretty simple math. But we actually ended up building an entire property management portfolio for this company because we didn’t have a property management company.
And so, you know, we started realizing after about 150 or 200 doors that we gave this guy that we realized, “Hey, you know what? It probably makes sense . . .” you know, we were crunching the numbers on that and we’re like, “Why don’t we have a property management company? Because we’re buying all these homes for them, we’re fixing them up for them, and then we’re handing them over to this guy. Yeah, we’re marking them up a little bit, but long-term wealth, we just basically set up their retirement for them.” And so, we looked at that and said, “Hey, you know what? Let’s start our own property management company.” So we did that. That was kind of the start of it.
So we were doing our flips and that on the side and still doing everything that we were doing before, but we just added the property management side to it. And so, lots of mistakes, failures in the property management world. That is not a fun business to be in if you don’t have all your ducks in a row. And we didn’t. We had some patient investors who worked with us, but we stumbled through it. And, you know, that’s kind of where it started.
And then we went from there to . . . you know, we did that for a while. We started getting into flipping homes, you know, quite a bit more. And it was easy to find them out here. And then, you know, it started to get a little bit more competitive, 2012, 2013, so we decided, “Hey, let’s take a look at land,” because no one was really buying up land out here. And so, we started buying up these 5-acre, 10-acre partials and, you know, doing minor land divisions. So, you know, we would have five lots that we would build homes on.
And Brad comes from a construction family background. His dad is from Texas as well. He had a contractor license out there for 20 years. He came out here, worked with us. So we teamed up together. We started the construction side.
And then that, again, was just kind of an opportunity that we saw that it was just more or less just kind of running on the side, you know, while we were doing . . . our main business has typically been just flipping homes. And then just as the market changes, you just have to roll with it. And so, it eventually, you know, turned into a construction company.
And then during that time, probably every year it seems like there was a new business opportunity that popped up that just was a wrinkle of what we were already doing and it just made sense, “Well, why send it out to these guys? I think we can keep this in house and, you know, kind of squeeze all the juice out of all these deals as much as possible.”
So Brad, he’s a lot more of an entrepreneur than I am. I’m more of I guess a systems person. So he’s more just like, ‘Hey, let’s just go get it and figure it out later.” So he started up a fencing business and a development business as well as a dirt contracting business.
And then now we’re actually at working on the plumbing division for the same reason that we’ve always set up these other businesses. Again, for our property management, we send out so many, you know, requests for plumbing services, and with our new construction that we have going on, you know, we know what the markup is that they’re making on those as well. So again, it’s kind of call us crazy I guess, because there are pros and cons to doing it this way. But yeah, I mean, things just seemed to kind of fall into place.
Mike: Yeah. So for years, I’ve always kind of said . . . I mean, I’ve said this a number of times just in different, you know, presentations or circles or whatever. Ultimately, we’re in the real estate business, but I kind of look at it as we’re in the opportunity business and I’m looking to kind of arbitrage opportunities. And that sounds like exactly what you guys have done.
Of course, the other side of the argument is the case for focus and not getting too distracted by doing too many things. I have shiny object syndrome, so I’m one of the worst. It sounds like Brad’s probably maybe worse than me.
But let’s talk about, you know, the truth is focus is really important, but I think when you are a systems person and an operations person and you have the ability to kind of plug management in place or plug it in, in a way to where for a brief period you’re distracted but somebody else is going to run with it, is that kind of how you guys are set up? Or do you find that you get spread really thin by having so many things going on?
BJ: Probably the latter. Honestly, we have been spread really thin. So on paper, on social media, yes. People are like, “Man, you guys are doing a lot. You must be doing really well.” And it’s like you have no idea kind of what’s going on behind the scenes. We wear a lot of hats and it’s not as efficient as it should be.
The nice thing, though, with our partnership, and I think the reason why it’s worked for so long, is I’m kind of the brakes. He’s the gas pedal a lot of times. And so, he’s going to be pushed to do these things and then now I’m more and more just saying, “Hey, let’s think this through a little bit. Let’s make sure we get all the pieces in place before we launch this.”
Our property management company, we just started that thing with no idea what in the world we were doing. We had no idea what we were doing. I mean, it’s scary to look back and realize how little we did know.
So we stumbled through that, made a ton of mistakes, and lost a lot of money doing it. We were not profitable for probably four years, I bet. You know, it was just going back into the company, but it was just brutal. Now, it runs like clockwork. I don’t even know what happens day to day in our property management, to be honest with you. I have no idea what goes on over there because we the right systems in place. But to get there, yeah, we struggled quite a bit.
Mike: And somebody else is running that, I assume, right?
BJ: Yes. So I’ve definitely seen the beauty in, you know, hiring things out. Again, we were always the mentality, you know, stay lean, keep all the green. That’s how we’ve always been. We’ve always thought, “Hey, we can run this as lean as possible and we get to keep every single dollar that comes in.”
But it kind of goes to the whole idea of . . . on the sales side, for instance, I’ve always done the sales. I’ve always been the one that acquires all of our properties and all of our land deals and stuff. And I enjoy that part and that’s why I’ve been doing it for so long. The problem, though, is I don’t trust anyone else to do it. And so, it took me a long time and going to events, like with Investor Fuel and some other groups, it opened up my eyes to the fact that, “Hey, guess what? You don’t need someone that is exactly like you, that you consider as good as you or better or whatever. You just need someone that is at, let’s say, 70% of where you’re at.” Because if two of those people, all of a sudden, are doing more than you ever could by yourself . . . and there are only so many hours in the day.
And I think it took us a long time . . . you know, probably about a year and a half, two years ago we started going to events with groups similar to Investor Fuel. And now we’re with Investor Fuel and love it. But the reason why we love it so much is because we’ve realized, you know, how many things we were doing wrong, but also “Here’s the path to make it work. Here’s what you need to do to get the systems in place and the hiring figured out to make it actually run like a business.”
And I honestly don’t feel like we’ve had a business, a legitimate professionally run business, up until I would say the past two years. It’s been kind of a night and day where we actually took that step.
Mike: Yeah. And you say all that and you guys have done some really impressive numbers in almost everything you do. So sometimes there’s more behind the scenes, right? But the opportunity is there. It’s just a matter of getting structured enough to run it efficiently, right?
So the good thing is I think a lot of the lessons . . . and you probably would advocate for this. The lessons you’ve learned can be applied . . . I mean, in the real estate investing business, at the end of the day, we’re a small business. There’s sales and marketing. There’s systems and processes. There’s financial cash management and things like that. And what we do as real estate investors is really kind of Small Business 101. Like, you can apply those lessons and even processes for recruiting and things like that over and over again to pretty much any small business, right?
BJ: Yeah, absolutely.
Mike: So what are some of the regrets that you have if you go back to being so diversified? On some level, focusing on X has pulled you away from Y and stuff like that. Maybe talk a little about some of the lessons learned there.
BJ: Number one . . . and I think you can relate with this because you’ve got in the business, I think, around the same time that we did. right?
Mike: 2008, yeah.
BJ: Okay. Yeah. So really close to the same time period. So 2008, I think this was kind of new for . . . you know, all of us saw the opportunity, to go with what you’re saying. I think all of us saw the opportunity, and so we just put our heads down, went to work, and just did what we thought was best. It wasn’t right or wrong. It was that’s just what you did.
And I think a lot of us looked at it as, “You’ve got to be secretive. Don’t tell anyone what you’re doing because they’re going to steal your business from you.” You know? And so, there wasn’t a lot of sharing going on and I think most of us were kind of like hermits. I mean, we were kind of really like, “Let’s just hunker down, do our thing,” and got this tunnel vision.
If I could do it over again . . . and I think this market now is very different than what it was then, obviously. But I think the environment is also very different. And so, groups like Investor Fuel, it’s been great, because the minute we joined a group and we got into a room and we realized, “Hey, guess what? We’re probably the dumbest people in this room.” And there were, you know, 50 other investors similar to us that were just crushing it and doing amazing things. We realized, “Okay, we actually do not have a business. We have a hobby. We have something that we enjoy doing that makes okay money. We’re able to live comfortably and those kinds of things. And we’re doing fine, but we don’t have a business.” You know?
And so, it was eye-opening for me to then reach out to different investors. And as everyone shares, the more that we share, the more that we gain from that. And so, I think that’s really important for new investors that are getting into it now or for anyone that’s been doing it for a long time. If you’re just hunkering down in your own desk and in your own office and you’re sitting down at your desk every day and you’re not networking and talking to people, your growth is going to be stunted immensely.
Mike: Yeah. We’ve talked about this a number of times, is that even when you get around other investors, there’s a lot to learn from other investors, but they’re probably one of the biggest learning opportunities. When you get into a group like Investor Fuel and you’re around a lot of other smart people and not just . . . you know, that’s one of the reasons that I’m excited to talk about failures and stuff today, is that those are learning opportunities, right? And very rarely do people talk about their failures, at least on social media, right?
But getting in a group of other people causes a lot of learning from self-reflection. It’s not like, “Here’s how he did it, or she did it. Let me do it like that.” It’s like, “Here’s where we made mistakes and here’s how we’ll do it differently next time or here’s how we’re going to go adjust things today,” right? And so, it just forces you to reflect.
You know, I kind of say this all the time. Investor Fuel is . . . there’s no coaching there, but there’s so much to learn from one another and from yourself when you have a chance to reflect on, “Oh, man, when we do that next time, here’s how we’re going to do it,” or, “We’re going to shift gears here,” because it forces you to rethink the decisions you’re making just by pulling yourself largely out of the day to day, right?
It’s like I’m going to go into a think tank for a couple of days and it’s like a little bit of a retreat to go out and reflect on what’s working and what’s not. And I’m going to come back a different person or with some new perspectives or new decisions about how we’re going to move forward.
BJ: Absolutely. And it’s funny because I think our team now, you know, whenever we come back from these events, they all get really excited because they’re like, “Hey, what’d you learn? What are we going to change? What are we going to . . .” because it’s like this jolt of energy that, “Hey, let’s bring some fresh new life in here.”
Because you get to a point where you just kind of stall out a little bit and you get a little bit . . . I don’t know . . . lackadaisical, bored, or whatever, and it becomes monotonous. And so, there, they shake you up and they’re like, “Hey, try doing this, this and this. Try three nuggets that you take from that,” and all of a sudden, your business grows another 100%. Like, it is crazy how much of a difference that we’ve seen, you know, since we’ve kind of gotten broken out of our shells and just gone out and networked.
Mike: Yeah. What are some learnings from failures or successes that . . . because there are people listening to this show right now that, you know, might be real estate investors and like, “I’m just going to get into lending too, and I’m going to start to diversify.” Or maybe they already have done it, but maybe some lessons learned on how and when it’s okay to diversify and set something else up versus staying focused and really just kind of honing in on that one thing or maybe two things that you’re doing that are working.
BJ: Yeah. I think probably our biggest lesson that we’ve learned is you have to let things incubate. You have to give it time. We’re impatient people. And so, if we set something up, we do some sort of marketing, and, you know, we try it out for a month and it doesn’t work, then we’re like, “Oh, it didn’t work. Let’s run to another thing and try that out.” And you just burn through cash like crazy and time and energy. And you think it was a failure, but really, in hindsight, you look back and you’re like, “Oh my gosh, if I just would’ve spent a few more months on that, a little bit more money, and saw that through, it would have worked out.”
The other thing I’ve learned from having so many different companies and diversifying is it’s important to make sure that your core systems are set in place so that you’re in a place where, “Okay, if I go and I start up another business and I want to start with another opportunity, I know now from experience how much time that’s going to take.”
There are only so many hours in the day. It means that I’m going to be devoting my precious time to these things. And if systems and people are not in place to operate your business without you being there, then it will all fall apart. It’s the house of cards, you know?
And so, it took us a long time to learn that and we’re still learning it. Don’t get me wrong, we’re still going through this. But the property management, for instance, I have no idea what happens there on a day-to-day basis. It just works. And, you know, the money comes in. I can look at a report on a monthly basis. If there are a couple of fires to put out, I will, but it just runs, you know?
Construction, I think we’re getting to that point now more than ever before where it just is starting to, you know, grow on its own. Whereas, before, I felt like we had to really support that business through our other businesses, kind of rob Peter to pay Paul, and really was not a business at all. Looking back, it was just kind of servicing our other properties.
And so, again, I think it’s really important to let things incubate and then, you know, to make sure you have the systems and right personnel in place before you jump ship and go somewhere else and try something else, because it will all fall apart
Mike: For your businesses now . . . and one of the things that I know I’ve seen personally is I’ll start . . . I have a few different businesses. I have team members that straddle both businesses or they’re like, “They do this over there and they do this over there.” This is my personal belief, because I probably have ADHD and I have shiny object syndrome and stuff like that. And I’ve reeled myself in quite a bit from where I used to be, but I’ve kind of found that it’s probably a little more okay for me to be that way as long as I have somebody else that is dedicated to that kind of channel, if you will, or that business. Whenever I try to get them working on other things, then things fall apart.
BJ: Yeah. That’s been a huge lesson for us. If you ask anyone that worked for us in the past, I would say, five years or whatever the case may be, they would all say the same exact thing. They would say, “Hey, you started off hiring me to do X and then you added Y, Z, H, F, P, everything else under the sun.” We spread them so thin and just, “Hey, you know, just figure it out. Jump in. Roll with it.” They’d ask questions. There was no system in place. It was just like, “We’ll figure it out. That’s what we do, you know? So I figured you can do it too.”
And that’s been a huge, huge lesson for us. And so, we’ve learned now on the hiring side, “Hey, let’s not overwhelm people, and let’s get them to focus on one or two things that they are excellent at and then just do those things, and we will hire someone else for the next thing.” That for sure has been a massive learning curve for us.
Mike: Yeah. And I know you guys have toyed too, because you’ve gone through this recently, of looking into even expanding into other markets, into your real estate investing business. And probably a lot of this stemmed from as the market in Phoenix got harder or matured more or kind of came out of the last down cycle more, then you guys were also probably looking for ways to diversify your income, right? You’re like, “Wow, things are kind of getting tougher. So here’s another way we can make money.” Would that be fair to say?
BJ: A hundred percent. Yeah. It’s interesting. So we went to a place in a Tucson, Arizona. It’s called Biosphere. I don’t know if you’ve heard of that before, but it’s interesting. So back in . . . I think it was the ’90s. They built this dome and, you know, they have life in it. They’ve made the environment, you know, perfect for these people to live in there. And they just wanted to see how they would . . . really, the idea was to see if we could create an environment in a biosphere and replicate that in outer space, on a different planet. So that was kind of the idea going into it. But they learned a lot from that.
And so, these people lived there for several years. And one of the things that they learned was . . . so these trees, they would get to a certain height and then all of a sudden, they’d fall over. And so, they were trying to figure out, “Hey, what’s going on?” They realized that the wind, the resistance that trees get on a daily basis, is imperative to their growth. Without the wind, without resistance, it’s not going to grow.
And so, that really stood out to me because I realized, “Okay, you know, we’re in Arizona. I don’t know if it is the hardest market. It’s got to be, you know, up there for sure compared to other markets.” And we actually just got back from a couple of different markets down south and it’s very different. So, you know, we’re in a very competitive market on the flip side, on the wholesaling thing.
And so, you know, I would say the past six months we’ve looked at this as, “Man, our margins are going down. Our income is getting squeezed. We’re spending a lot more for these leads.” We have Opendoor and Offerpad and Zillow now. And it seems like literally every single company hedge fund that wants to try their hand at buying homes, they typically start in Arizona for whatever reason, you know? So we always get the brunt of everything it feels like.
So, you know, there are two ways to look at it. And for a long time, we looked at the wrong way, in my opinion. We looked at it as, “Oh, everyone else is doing good in their markets because they don’t have it as hard as we do. And so, of course, they’re doing good.” So we would come up with excuses.
And so, I look back at that and I’m like, “You know what? We were looking at that all wrong.” Because if I look back on the past six months this year, and even if you go back a year from now, I can tell you without question that what it’s done is it’s shined a light on every single system, process, that we have not shored up and improved.
And so, it shows you every single weakness that you have. Because out here in Arizona right now, if you buy a home, the margins are smaller, so you have to buy it exactly right and you have to have all your ducks in a row on the construction side. You cannot go over budget, and you have to list it quickly, you know, in order to make the same profit that we’re hoping to get.
And so, by having it so difficult right now, it has basically helped us to grow our construction company. It now is on its own two feet, and at this point, I feel like it’s in the best position it’s ever been. And I can only see it improving because of the hires that we’ve made, the way we’ve trained them, the systems that we’ve put in place. I think all of those things are now setting up the building company, you know, Better Choice Builders, to have a fantastic year this year.
And then into the future, that could end up being our biggest business. Right now, it’s not. It’s not even close. Our flips and wholesale business has always kind of, you know, been the meat of the profit. But I really do think that now that is set up to really succeed on its own without any help from us [beating at 00:28:12] homes for the flips. And instead, now, it’s doing all of the new construction and doing client remodels and we’re also building, you know, some beautiful custom homes for clients as well. All of that outside of our main business. So it really has been a blessing.
And so, yeah, the resistance when it happens, no one likes to work out. At least I don’t like to work out. I’ll put it that way. I’m sure there are people that do. I hate working out, but every time I leave there after, you know, all that resistance training, obviously you feel better. And it’s a necessary part of life.
Mike: Yup. Awesome, man. So, let me ask a question. So for those listening right now that are aware of Investor Fuel, they’re actively doing deals right now, considering a mastermind, could you share a testimonial of what it’s meant for you and your business? I know you’ve been in some other groups before too, but this group specifically, you know, why you would encourage people to learn more about it or check it out and maybe some impact it’s had on your business?
BJ: Yeah. A couple of things that stood out to me with this group were the caliber of people, number one. They all seemed to just have, you know, their stuff together. I’m sure that it’s maybe not so much behind the scenes, but they were all extremely willing to share. I always felt like I was one of the dumbest people in the room, which is you want to do. You want to get in a group like that where you have a lot of A players, A-plus guys that you can learn from. And so, I feel like that has been the case with Investor Fuel. So the caliber of people has been fantastic.
And then they’re all willing to share. And so, for instance, we just came back from Alabama. We were there for a few days with a couple Investor Fuel guys that we met. And, you know, we’re looking to possibly do some income properties and stuff. And so, talking with them and meeting with them, they have so much knowledge in their area and they’re willing to share with us, and it was awesome to learn from them.
And so, you know, when you have people that are willing to share and they’ve had a lot of experience and you’re able to work together now, and I think we’re able to provide a benefit to them as well as that they’re going to be a benefit to us, that’s really what it’s all about, in my opinion. I think everyone is just elevating each other to a much higher level that we absolutely would not be there had it not been, you know, for groups like Investor Fuel. I have no doubt about that. Our business would not be as solid as it is today had we not made a decision to join the group.
Mike: That’s great. I think one of the things we’ve done more than anything is we’ve tried to encourage just openness and sharing and being willing to be a giver. I think you’ve probably seen it. A lot of people in the group feel it because we hear about it all the time. You know, people get so much back when they’re willing to give. And so, I think that’s one of the things that we pride ourselves on. I don’t think very many people . . . I never sense that people are holding back on sharing some of their best nuggets because they know that, “If I just am open and share whatever I’ve got, everybody else will do that too and we’ll all succeed that much faster.”
BJ: Totally agree.
Mike: Yeah. Cool, buddy. Well, hey, thanks for joining us on the show today. If folks wanted to get in touch with you or reach out to you . . . I think you guys have about 25 Facebook groups or whatever. But where’s the best place for them to go to connect with you and kind of learn more about what you’re working on?
BJ: Sure. So betterchoicehomes.com is our website. Also betterchoicebuilders.com. Both of those they can go to. We’re on Instagram, you know, quite a bit. Better Choice Builders is active on there as well. So you can see, you know, some of the homes that we’re building out here. And that’s probably the best way to reach out to us.
Mike: Awesome. We’ll put a couple of links down below in the show notes for folks that are just listening in that you can access on the show page here.
Well, thanks again for spending time with us today. It’s great stuff. I want some combination . . . I want nothing but the best for you guys, but some combination of, you know, not diversifying so much that you’re getting distracted but doing the things that you guys are doing well.
And I think probably one of the things that you know at point is you’ve got to just get to a point where you have a bench strength of people that you can plug in to go kind of lead those things that you’re creating and allow them to run the data. It sounds like that’s what you’re doing with your property management company. Somebody is running the day to day. And a lot of the lessons to get there were from your trials and tribulations in order get there.
But at the end of the day, you know, none of us wants to be so busy running businesses that we can’t live the life we want to live. I mean, I definitely am no Richard Branson, but I appreciate the model of find great people to run those things, and then my role is clearing major obstacles and maybe funding them or raising money or whatever to kind of get things going. But I can’t be involved in the day-to-day process. Otherwise, I can only do one thing. For some people, they like doing one thing. For me, I’d probably get bored, and so I add some variety in there. But, anyway, I want nothing but the best for you guys.
BJ: We appreciate it, Mike. We appreciate all you’re doing.
Mike: Awesome, buddy. Well, thanks so much. Thanks for joining us on the show. Everybody, thanks for listening today.
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So I appreciate you guys a bunch. Thanks again, BJ. We’ll see you soon, buddy. Everybody, have a great day. We’ll see you next time.
BJ: You bet. Thanks.
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